Hold your breath! Facebook has set a planned date for its initial public offering on May 18. However, just days before this major milestone, General Motors announced to pull in paid ads from Facebook saying that its paid ads have little impact on sales.

GM will continue to promote all of its products and brands on Facebook and engage with its customers adding that Social Media is an important and powerful tool. GM is planning to expand its Facebook presence but for free through the development of a strong content strategy.

“Just wanted to let our millions of Facebook fans know, we’re still here, and we ‘like’ you back! We may not be advertising on Facebook at the moment but we’ll still be talking with you all daily. If anything, we will be providing more content across our many GM Facebook pages – including Chevrolet, Buick, GMC and Cadillac – to keep the dialogue going” GM have posted today on its Facebook page.

The reaction of Ford, a GM‘s major competitor, followed immediately.

“It’s all about the execution. Our Facebook ads are effective when strategically combined with engaging content & innovation” commented Ford on Twitter.

While GM is trying to cut its marketing budget by dropping Facebook advertising, Ford continues to work hand in hand with a Social Media giant pioneering new Facebook features as well as working together on apps for its Ford Sync – an in-car software platform.